Why are investors so sceptical about Altcoins? - page 4.

Abiky

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Quote from: Silberman on March 08, 2023, 02:20:42 PM

There was a time in which altcoins were serious proposals and the community supported them, the developers got money to begin building their dream coin and then those which risked their money multiplied their capital many times over with relatively ease, it was a good model which did not required exchanges or going through KYC, but then the scammers saw this and immediately joined creating hundreds of scams in the process, and all trust in those new coins banished.

We can thank the ICO boom of 2017 for that. It paved the way for scammers to earn a "quick buck" without having to deal with the regulators. Back then, crypto was in a regulatory grey area so it was pretty much the "wild west". Altcoins proved to be a wonderful tool for scammers to "hunt" down their victims for money. It's this reason why investors are so skeptical about them. Not like Bitcoin which is used more seriously in the mainstream world (although we can't say there are zero scams linked to BTC).

If you know how to play your cards right, altcoins can make you some decent profit in the short term. Otherwise, I'd suggest you stick around with Bitcoin for a while. Who knows what the fate of altcoins will be? Just my opinion

Silberman

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Quote from: so98nn on March 08, 2023, 12:37:05 PM

I believe you have already answered few of the queries in your post. The problem with altcoin started with the trust and the way they operate in the real world. Most of the Altcoins are made out of thin air and they have no real basis. What I mean is, they would be created with some assumptie ideas, something which they may achieve in X time or y day etc etc. However, none of them really achieve anything from their roadmap and everything goes to waste. Mostly investors who gets attached since the beginning of project has huge investment in it which goes to zero in no time. That is why most of the investors already know why investing in alts is high risk.

There was a time in which altcoins were serious proposals and the community supported them, the developers got money to begin building their dream coin and then those which risked their money multiplied their capital many times over with relatively ease, it was a good model which did not required exchanges or going through KYC, but then the scammers saw this and immediately joined creating hundreds of scams in the process, and all trust in those new coins banished.

so98nn

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I believe you have already answered few of the queries in your post. The problem with altcoin started with the trust and the way they operate in the real world. Most of the Altcoins are made out of thin air and they have no real basis. What I mean is, they would be created with some assumptie ideas, something which they may achieve in X time or y day etc etc. However, none of them really achieve anything from their roadmap and everything goes to waste. Mostly investors who gets attached since the beginning of project has huge investment in it which goes to zero in no time. That is why most of the investors already know why investing in alts is high risk.

Mpamaegbu

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Quote from: letteredhub on March 01, 2023, 11:28:51 AM

Alternative coins are not dependable like bitcoin that's why many investors are very skeptical about putting in their money and in addition to proliferation of altcoins that has been circulated all over the exchanges platforms and this makes it difficult for investors to pinpoint which coin is dependable and reliable. And the high volatility of most of these altcoins is some that's worrisome

Altcoins are high risk and high reward. Those who invest in them don't stay long on them and would be satisfied to run with whatever profit they get out of it. Conservative investors don't like that. They want investments they can put their cash on and feel relaxed. The reason being that an altcoin that's in massive profit today can lose steam within that same day and all the profit made gone with the wind.

On my part, I like what gives me the excitement when it comes to investment. I also have a substantial amount in altcoin spread out than I've in Bitcoin.

Captain Corporate

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I remembered one more than what people have said here; the simple truth is that I do not have enough information regarding them. Normally about bitcoin and ethereum I know all that I could know about and there is really nothing that is "hidden" and I did not know. There is nothing about bitcoin you can tell me that I did not already know, or at least I trust myself that much. However, the lower you go on the list, even some of the top 10 ones, I could be basically not aware of some new things that happens in their projects and that is why I rather stay away from them as much as I can.

BobK71

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Quote from: fullhdpixel on March 06, 2023, 02:21:36 PM

Quote from: Abiky on March 05, 2023, 07:10:15 AM

Investors are skeptical about altcoins since many of them are not as decentralized and censorship-resistant as Bitcoin is. Aside from the fact that altcoins' prices are much more volatile than Bitcoins', most of them are still in experimental stage. Investors can expect altcoins to be an unreliable investment compared to BTC. Despite the inherent issues of alts, it's still possible to make a profit if you know how to play your cards right. Altcoins are usually driven by hype, so they could rise astronomically in price for a short period of time. But don't expect to take them seriously as a long-term investment because of the reasons mentioned before.

Picking the right altcoin is a hard and time-consuming task. I'd stick with Bitcoin and Ethereum for complete peace of mind. As long as you invest wisely, there should be nothing to worry about. Just my thoughts Grin

But, there are many people who buy Bitcoin and use it for investment purposes only. They don't care about Bitcoins decentralized factor. The main reason why many people are skeptical about Altcoins is not because Altcoins are more centralized but because most of them are just scams.

When it comes to volatility, I think it was Bitcoins are the ones who are more volatile because it is less regulated. There are old Altcoins like Ethereum and Litecoin. They are not on the experimental stage anymore. These are the Altcoins that we should invest if we want to diversify our funds or if we are simply bored on investing in Bitcoins alone.

If you do a survey you will see that many of the altcoins that were in the last bull market are not active. At the bullish moment they created hype and grabbed a lot of investors. But I won't deny that most altcoins have lost a large chunk of price since the bull market. Most altcoins have lost over 90 percent or more. But I am talking about those coins which are currently missing from the market. Many of the coins I have seen have been de listed from exchanges. Moreover, scams in big coins have a big effect on altcoins. I think many people are pulling themselves away from alt coins because of these issues.

pgbit

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Quote from: Ojima-ojo on February 25, 2023, 08:15:38 AM

I am not an altcoin fan but lately, I have spent some time on the alternative cryptocurrency board and I have seen a lot of topics bordering around whether or not to buy some coins and this makes me wonder why altcoins investors are full of uncertainty and always wanting to know the opinion of others before they invest.

Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?

Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?

There could be several reasons why altcoin investors are often uncertain and seeking the opinions of others before investing
High risk and volatility of altcoins
Altcoins are newer and lack established market
Sheer number of options makes evaluation difficult
Some investors lack knowledge/expertise
Seeking advice from experts can mitigate risk.
Unlike Bitcoin, which has a long track record and a relatively stable market, many altcoins are newer and have yet to establish themselves in the market.

uneng

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Quote from: fullhdpixel on March 06, 2023, 02:21:36 PM

Quote from: Abiky on March 05, 2023, 07:10:15 AM

Investors are skeptical about altcoins since many of them are not as decentralized and censorship-resistant as Bitcoin is. Aside from the fact that altcoins' prices are much more volatile than Bitcoins', most of them are still in experimental stage. Investors can expect altcoins to be an unreliable investment compared to BTC. Despite the inherent issues of alts, it's still possible to make a profit if you know how to play your cards right. Altcoins are usually driven by hype, so they could rise astronomically in price for a short period of time. But don't expect to take them seriously as a long-term investment because of the reasons mentioned before.

Picking the right altcoin is a hard and time-consuming task. I'd stick with Bitcoin and Ethereum for complete peace of mind. As long as you invest wisely, there should be nothing to worry about. Just my thoughts Grin

But, there are many people who buy Bitcoin and use it for investment purposes only. They don't care about Bitcoins decentralized factor. The main reason why many people are skeptical about Altcoins is not because Altcoins are more centralized but because most of them are just scams.

When it comes to volatility, I think it was Bitcoins are the ones who are more volatile because it is less regulated. There are old Altcoins like Ethereum and Litecoin. They are not on the experimental stage anymore. These are the Altcoins that we should invest if we want to diversify our funds or if we are simply bored on investing in Bitcoins alone.

I believe investors are full of doubts about what altcoins to pick, because they want to be sure to choose the one which is going to return huge profit percentage to them. However, they ignore the fact nobody can predict such hypes, since it's heavily lead by sudden speculation created by whales in an attempt to manipulate market's prices, executing their pump and dump schemes.

With few exceptions, there aren't strong factors to consider in order to explain why one altcoin is performing well, while others aren't.

Consequently, for doubtful investors, it's highly advised they put their money into bitcoin to minimize losses and care for the investment's safety.

Stable090

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Altcoins can’t be trusted, most people use altcoins to scam that’s why investors are always careful whenever they want to invest in it. Anyone can just create a coin and promote it just to scam people, but nobody can do that when it comes to bitcoin. Even last year we all saw lots of coin that really disappointed people, people lost lots of money in Luna and ftx, that’s why people are always careful when it comes to altcoins.

Abiky

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Quote from: fullhdpixel on March 06, 2023, 02:21:36 PM

But, there are many people who buy Bitcoin and use it for investment purposes only. They don't care about Bitcoins decentralized factor. The main reason why many people are skeptical about Altcoins is not because Altcoins are more centralized but because most of them are just scams.

When it comes to volatility, I think it was Bitcoins are the ones who are more volatile because it is less regulated. There are old Altcoins like Ethereum and Litecoin. They are not on the experimental stage anymore. These are the Altcoins that we should invest if we want to diversify our funds or if we are simply bored on investing in Bitcoins alone.

I'd say 99.9% of investors don't care about decentralization as long as they're able to fill their pockets with money. Only true believers of crypto/Blockchain tech will. Altcoins are often a way to make huge profits due to their highly-unpredictable nature. Investors see these alternative currencies as an opportunity to become rich in the long term. They've missed the "Bitcoin train", so their only option is to invest into prominent altcoins with the hopes of turning a profit during the next bull market.

Choosing the right alts can be difficult, especially when many of them provide unique features to the world. I'd stick with oldies such as Ethereum and Litecoin for complete peace of mind. Who knows what surprises we'll find in the next bull market? Just my thoughts Grin

abralzain17

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no, to hunt for airdrop prizes just seems to tire me out of work. besides having no value, sometimes airdrop providers only use their participants to work for them and in the end they don't get paid as previously promised. this is the reason I no longer like and hunt for Airdrops.
but if there are people who like to chase airdrops to get free prizes, it's also not wrong to join, maybe there are airdrop providers who appreciate the work of their participants.

fullhdpixel

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Quote from: Abiky on March 05, 2023, 07:10:15 AM

Investors are skeptical about altcoins since many of them are not as decentralized and censorship-resistant as Bitcoin is. Aside from the fact that altcoins' prices are much more volatile than Bitcoins', most of them are still in experimental stage. Investors can expect altcoins to be an unreliable investment compared to BTC. Despite the inherent issues of alts, it's still possible to make a profit if you know how to play your cards right. Altcoins are usually driven by hype, so they could rise astronomically in price for a short period of time. But don't expect to take them seriously as a long-term investment because of the reasons mentioned before.

Picking the right altcoin is a hard and time-consuming task. I'd stick with Bitcoin and Ethereum for complete peace of mind. As long as you invest wisely, there should be nothing to worry about. Just my thoughts Grin

But, there are many people who buy Bitcoin and use it for investment purposes only. They don't care about Bitcoins decentralized factor. The main reason why many people are skeptical about Altcoins is not because Altcoins are more centralized but because most of them are just scams.

When it comes to volatility, I think it was Bitcoins are the ones who are more volatile because it is less regulated. There are old Altcoins like Ethereum and Litecoin. They are not on the experimental stage anymore. These are the Altcoins that we should invest if we want to diversify our funds or if we are simply bored on investing in Bitcoins alone.

topman21

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Quote from: Ojima-ojo on February 25, 2023, 08:15:38 AM

I am not an altcoin fan but lately, I have spent some time on the alternative cryptocurrency board and I have seen a lot of topics bordering around whether or not to buy some coins and this makes me wonder why altcoins investors are full of uncertainty and always wanting to know the opinion of others before they invest.

Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?

Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?

Currently the market situation is very bad. At this time investment becomes a cause of concern among people. Although Bitcoin investment is done by most people. But altcoin investment is much lower. The reason is that some altcoin are completely exhausted from the market. As a result, people can't think of investing in altcoin at all. But not all altcoin are exhausted from the market. I think it is possible to make a lot of profit by investing in altcoin as well.

Jody.Drummer

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Quote from: Yamifoud on March 06, 2023, 04:34:25 AM

Quote from: Ojima-ojo on February 25, 2023, 08:15:38 AM

...
Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?

Perhaps you are right. Some people/investors are good at picking and market analysis, and some of them are spending more time in the market and checking new projects' progress. And asking for their opinion is a big help for newbies to decide what to invest in and lighten up. Like if you are a newbie, not actually necessary but I think it was more advisable to do this just to avoid investing in a wrong /scam project. But yes, we also have to do our own research, not just rely on their opinion.

We can make research and compare what we produce from the research we do with the opinions of other people. Sometimes we cannot fully trust other people's opinions and we cannot completely trust them, it depends on what project they suggest. If we do our own research we can find out the reasons that make other people suggest or not to invest in the new project. For the decision, it becomes a decision that is absolutely in our hands. But the decision must be in accordance with our research, lest we do it by trying our luck.

Yamifoud

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Quote from: Ojima-ojo on February 25, 2023, 08:15:38 AM

...
Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?

Perhaps you are right. Some people/investors are good at picking and market analysis, and some of them are spending more time in the market and checking new projects' progress. And asking for their opinion is a big help for newbies to decide what to invest in and lighten up. Like if you are a newbie, not actually necessary but I think it was more advisable to do this just to avoid investing in a wrong /scam project. But yes, we also have to do our own research, not just rely on their opinion.

pgbit

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Quote from: Ojima-ojo on February 25, 2023, 08:15:38 AM

I am not an altcoin fan but lately, I have spent some time on the alternative cryptocurrency board and I have seen a lot of topics bordering around whether or not to buy some coins and this makes me wonder why altcoins investors are full of uncertainty and always wanting to know the opinion of others before they invest.

Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?

Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?

There are several reasons why altcoin investors may seek the opinion of others before investing in a particular coin. One reason is the high risk and volatility associated with many altcoins, which can make it difficult for individual investors to make informed decisions about which coins to buy and when to buy them. As such, investors may seek the advice of others who have experience and expertise in analyzing market trends and identifying promising investment opportunities.

Farma

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Currently, there are lots of altcoins being developed, and among the many altcoins being developed, there are very many that have become scams. People doubt and ask about an altcoin in public for many reasons. some reason that it is

Too many altcoin projects have become a scam
They don't know how to research potential altcoins or are unsure of their analysis and need someone else's opinion
They are afraid that the project they have chosen will only run temporarily, after which it will be abandoned
There are so many projects that look promising, but sometimes don't have clear information
And others

actually, it is highly recommended that people to only choose altcoins that are popular or are in the top 10 of CMC. however, as you said new altcoins sometimes have higher volatility than popular bitcoin or altcoin prices, as well as lower prices.

Rabata

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Quote from: Ojima-ojo on February 25, 2023, 08:15:38 AM

I am not an altcoin fan but lately, I have spent some time on the alternative cryptocurrency board and I have seen a lot of topics bordering around whether or not to buy some coins and this makes me wonder why altcoins investors are full of uncertainty and always wanting to know the opinion of others before they invest.

Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?

Since the beginning of 2022, investors have seen negative reactions to altcoins. A major crash in some of the top alt coins has sent the market bottoming out. By this effect investors are quite apprehensive about investing in altcoins. But this is temporary. Hopefully, when the BTC bull market starts, the altcoins will start to be bullish again. There is no better investment in crypto than bitcoin when it comes to investing. If you want to find a good investment project after Bitcoin then you have to invest in altcoins. There are a lot of altcoins in the market, researching them and investing in good projects can definitely be effective.

Bestdss

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People are skeptical about #Altcoins because most of them don't have use cases, most #Altcoins don't have good support backing them, imagine how some #Altcoins go into oblivion whenever there is crash and will never make it back into the market. Some Devs will just want to rugpull investors. Nevertheless some #Altcoins have made millionaires, I will advice anyone who wants to buy #Altcoins to buy from good CEX : Binance, MEXC, Gate, Kucoin, Uniswap etc

Abiky

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Quote from: Ojima-ojo on February 25, 2023, 08:15:38 AM

I am not an altcoin fan but lately, I have spent some time on the alternative cryptocurrency board and I have seen a lot of topics bordering around whether or not to buy some coins and this makes me wonder why altcoins investors are full of uncertainty and always wanting to know the opinion of others before they invest.

Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?

Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?

Investors are skeptical about altcoins since many of them are not as decentralized and censorship-resistant as Bitcoin is. Aside from the fact that altcoins' prices are much more volatile than Bitcoins', most of them are still in experimental stage. Investors can expect altcoins to be an unreliable investment compared to BTC. Despite the inherent issues of alts, it's still possible to make a profit if you know how to play your cards right. Altcoins are usually driven by hype, so they could rise astronomically in price for a short period of time. But don't expect to take them seriously as a long-term investment because of the reasons mentioned before.

Picking the right altcoin is a hard and time-consuming task. I'd stick with Bitcoin and Ethereum for complete peace of mind. As long as you invest wisely, there should be nothing to worry about. Just my thoughts Grin

Topic: Why are investors so sceptical about Altcoins? - page 4. (Read 969 times)